A method is provided for determining remaining oil life prior to an oil change in an internal combustion engine that uses a body of oil. The method includes transferring the body of oil to the engine and determining a volume of the transferred body of oil. The method also includes determining a factor representative of a volume of oil from the transferred body of oil that is exposed to a combustion event in the engine. Additionally, the method includes determining the remaining oil life based on the determined volume of the body of oil and the determined factor representative of a volume of oil that is exposed to a combustion event. Moreover, the method includes activating an oil change indicator when the remaining oil life reaches a predetermined level. A system for determining a number of engine revolutions permitted on a volume of oil is also disclosed.